A warning about Alt-Coins

[monneda]

What do you think about ecoin? They say that it's a "cover" coin. What do they mean? Where is it going to have support from?

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[snguyen]

I agree with the sentiment, but not your conclusion. The Alt-coin game is a 90/10 mixture of people trying to print their own money, and a few coins that have actual 'improvements' in them, even though Bitcoin works just fine. Maybe 90/10 is too generous, 98/2 might be better. But either way, a FaceCoin etc. would do one thing well: drive people to crypto-currencies that don't currently use it. Mass adoption through any means is only going to help us in the long run, IMO.

LOL, I am looking forward to have the first Facecoin (or F-coin) then

[AriGold]

Looking forward to the progress of the Coinye compared to the Dogecoin evolution!

[farvali]

Can't wait for my 3 Jalapenos to arrive and will mine PPC or something, just for LULZ

[Limones]

I agree with the sentiment, but not your conclusion. The Alt-coin game is a 90/10 mixture of people trying to print their own money, and a few coins that have actual 'improvements' in them, even though Bitcoin works just fine. Maybe 90/10 is too generous, 98/2 might be better. But either way, a FaceCoin etc. would do one thing well: drive people to crypto-currencies that don't currently use it. Mass adoption through any means is only going to help us in the long run, IMO.

LOL, I am looking forward to have the first Facecoin (or F-coin) then

Me too, actually. Let people mine a few thousand, decide they want something worth the investment, and switch to a real coin. It can really only help us.

[jcooper]

LOL, I am looking forward to have the first Facecoin (or F-coin) then

Me too, actually. Let people mine a few thousand, decide they want something worth the investment, and switch to a real coin. It can really only help us.

What do you mean by "real coin"?   Just curious.

[thecapitalr]

It really is dumb how many alt coins are out on the market now. I totally agree.

Some are good and for sure here to stay. I am a fan of the ones that offer innovative features and are not just "cut and paste" coins.

Coins I like:
LTC (because it has a great developer network and community)
PPC (innovative technology... sunny is a great developer)
XPM (because of implications towards scientific research)
NXT (super beta coin right now but IMHO has HUGE potential so I invested a small amount (.35 btc) into it. Never invest more than you can afford to loose)
DTC (I like the idea of being able to store data on the block chain)
NMC (domain name idea is cool too)


However, as you can see this is just too many coins. NXT combines everything into one which is great but who knows if it will take off.

The only ones that are "needed" IMHO are BTC and LTC. LTC because I think a second block chain is needed for added strength and LTC has great support / community already.

[jcooper]

The only ones that are "needed" IMHO are BTC and LTC. 

In the same sense that the only social networking sites that were "needed" were Friendster and Myspace.  Or the only web browsers that were "needed" were Mosaic and Internet Explorer. 

I think that it won't be long before BTC and LTC will be regarded as the first-generation crypto-currencies that blazed the trail, but the technology will move past them.  Proof-of-work designs in general may go out of fashion.

[chuckbobuck]

I tend to agree with jcooper, 

The market for crypto currency is diverse and complex. New innovations will bring more coins and more users, and ultimately more capital into the paradigm.   There are many alt coins and many alt coins will fail by the market.  That, however, is the wonderful point; a true and free market will decide their worth. 

I, myself, would like to see the implementation 2 specific innovations:

1.  Multi-signature escrow for the masses. This is an escrow protocol built right into the blockchain but is currently combersome, complicated and hazardous (you could loose your coins) to use.    From what I've been able to garner from searches, m.s. escrow for the masses has yet to arrive.   Correct me if I'm wrong here, because that would really make my day. 

2.   Zerocoin, as a seperate coin, or as integrated into any other crypto.  This would essentially provide a built-in laudry service making it quite difficult to trace coin origins. 

[olinnebit]

The only ones that are "needed" IMHO are BTC and LTC. 

In the same sense that the only social networking sites that were "needed" were Friendster and Myspace.  Or the only web browsers that were "needed" were Mosaic and Internet Explorer. 

I think that it won't be long before BTC and LTC will be regarded as the first-generation crypto-currencies that blazed the trail, but the technology will move past them.  Proof-of-work designs in general may go out of fashion.

It's seems to me many people do not see the possible changes that may happen. For example, instead of looking at BTC, LTC, XPM as alternatives to USD, EUR, Swiss Franc, etc, see it as alternatives to nickles, pennies, cents and Dollar. BTC to buy a house, LTC to buy a coffee. Crypto currencies are not going to change finance, business, purchase methods. It will revolutionize it into something we have never seen. Just how FB took social networking to another level. I agree on BTC and other PoW designs will witter with time, they where just first.

[phoenixroar]

Coins I like:
LTC (because it has a great developer network and community)
PPC (innovative technology... sunny is a great developer)
XPM (because of implications towards scientific research)
NXT (super beta coin right now but IMHO has HUGE potential so I invested a small amount (.35 btc) into it. Never invest more than you can afford to loose)
DTC (I like the idea of being able to store data on the block chain)
NMC (domain name idea is cool too)

Nice list, though NXT cannot be mined, so one can just buy it and miss then fun :-) ?

[p2000]

hi, is the only way to speculate to collect loads of coins and hope one pays out eventually. bit bewildered by the sheer amount of types of coins. I found selling mined coins on eBay can beat exchange rates

[johnerps]

dose anyone think the facebook of crypto is out their yet

[n0xn]

I got a strange love for adt. I dont now why but i am carrying a quite big bunch of them and now when mullick is back and lookin in how to fix it permanently, I would advise ppl to buy in at least with a litte bit of your holdings (with a high risk thinkin of course).
I think it will sure pass tix (wich i really dont like) and become a hunter of ifc!

[johnerps]

anyone know of any good faucets for any coins

[ilostmyface]

It really is dumb how many alt coins are out on the market now. I totally agree.

Some are good and for sure here to stay. I am a fan of the ones that offer innovative features and are not just "cut and paste" coins.

Coins I like:
LTC (because it has a great developer network and community)
PPC (innovative technology... sunny is a great developer)
XPM (because of implications towards scientific research)
NXT (super beta coin right now but IMHO has HUGE potential so I invested a small amount (.35 btc) into it. Never invest more than you can afford to loose)
DTC (I like the idea of being able to store data on the block chain)
NMC (domain name idea is cool too)


However, as you can see this is just too many coins. NXT combines everything into one which is great but who knows if it will take off.

The only ones that are "needed" IMHO are BTC and LTC. LTC because I think a second block chain is needed for added strength and LTC has great support / community already.

I love what NXT brings to the table of cryptos.. but the wallet system seems to be vulnerable and cumbersome.

[SilentCheese]

What do you guys think about datacoin.. do you think its price will reach the price of XPM.

I love the innovation behind datacoin and xpm, which can't be said for the majority of alt-coins. You should trade for DTC on bter.com while it's still an infant 

The only problem with BTER.com is it's hit and miss.  I tried an arbitrage play by buying cheaper coins from another exchange and then sending them to  BTER.  The problem is the coin was never credited to my wallet.  I looked up the coin in the block explorer and saw that they went to my wallet in BTER.com, just never credited.  So I emailed them a couple of times, and there was no reply.

That's not the customer service experience I was expecting.

[digitsmith]

really enjoying mining scrypt coins as a hobby, and who knows maybe a few (4-5?) will actually be with us for the long run

only time will tell

[asprin]

I just got into mining altcoins recently as well.  Mostly scrypt based coins, since there aren't crazy powerful consumer rigs yet.
I've been mining bitcoin for a year or so and it's fun, but I've found that I really enjoy mining all the different altcoins and trading them.  Maybe its the pog trader in me?

[nightblaze]

Hi there! I'm completely new to all forms of altcoins and bitcoin as well. I am mostly interested in Bitcoin for reliability, and dogecoin for fun. What can you guys tell me about them?